Upgradation of powerlooms - MoT
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Consumption Projected in 2018 / 19 - ICAC
USA : Although China ’ s tariffs on US cotton helped drag international prices down from June ’ s season-high of 101.7 cents per pound , strong demand in Asia and Southeast Asia has helped them rebound by the beginning of August . Usually , high prices drive an increase in cotton cultivation , but lessthan-ideal environmental conditions and a lack of available water are projected
to cause a reduction in planted area for many of the world ’ s top producers in 2018 / 19 .
Sour trade relations between China and the USA show little signs of improving , and could even deteriorate further in the near term , potentially causing major shifts in global trade patterns .
China ’ s 25 % premium could prompt the USA , the world ’ s largest exporter , to seek new markets for its fibre , while other major exporters such as Brazil are expected to fill the void by increasing their shipments to China , the world ’ s largest importer .
The Global production has
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increased 16 % to 26.87 million tonnes in 2017 / 18 , with increases expected from all major producers : India , China , USA , Brazil , Pakistan , West Africa , Turkey , Australia and Uzbekistan .
Those increases , however , are the result of expanded plantings and favourable weather conditions , as global yields posted a marginal increase of 1 %.
The Global production for the 2018 / 19 season is currently projected at 25.9 million tonnes , which would represent a 4 % decrease . Global consumption , on the other hand , is currently projected to increase 4 % to 27.5 million tonnes .
With global consumption at an all-time high , pressure on stocks is expected to reduce global reserves by 1.6 million tonnes to finish the 2018 / 19 season at 17.7 million tonnes .
Stocks in China are projected to decrease for the fifth consecutive year to 7.5 million tonnes , while stocks outside are expected to remain stable at 10.1 million tonnes .
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Associations & Company affairs
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Upgradation of powerlooms - MoT
New Delhi : The Government is implementing Power Tex India , a comprehensive scheme for power loom sector development .
Under the scheme , existing plain powerlooms are upgraded to semiautomatic and shuttleless looms to improve quality and productivity , by providing financial assistance to powerloomunits . So far , more than 2.16 lakh looms have been upgraded in the country under the in-situ upgradation component of the scheme .
For implementing Amended Technology Upgradation Funds Scheme ( ATUFS ), a comprehensivei-TUFS software has been developed .
Through the iTUFS software , the beneficiary units can directly upload their applications . The beneficiary units can also track their application at each stage of the process .
India is the second largest exporter of textiles in the world . During 2017-18 , India exported cotton textiles volume at USD 1854 million to Bangladesh and USD 1020 million to China . During 2013-17 , man-made fibre ( MMF ) exports of China have grown at a CAGR of 2 %, while India ’ s MMF exports have grown by3 % during the same period .
Production |
( in Million Metric Tonnes ) |
India |
6.29 |
China |
5.89 |
USA |
4.55 |
Pakistan |
1.80 |
Brazil |
1.94 |
Uzbekistan |
0.80 |
Others |
5.44 |
Total |
26.71 |
Drop in order intake for Second Quarter - ACIMIT
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Mumbai : The order intake index for textile machinery compiled by ACIMIT , the Association of Italian Textile Machinery Manufacturers , for April-June 2018 period fell by 15 % compared to the same period for 2017 . The index value stood at 103.4 basis points ( 2015 basis = 100 ).
This drop affected both the domestic and foreign markets . In Italy , the index stood at an absolute value of 141.4 basis points , i . e . 13 % less than for the period of April-June 2017 . For foreign markets , sales fell by 14 % and the index stood at an absolute value of 99.6 basis points .
As ACIMIT ’ s president Alessandro Zucchi confirms , “ Surely the global market for the sector has tended to settle somewhat . After two years of significant investments , textile manufacturers are now tightening up . However , growth margins still exist in a variety of Countries .”
This fact appears even more relevant for Italy ’ s domestic market where , although registering a drop with respect to 2017 , the order intake index for the second quarter has shown growth compared to the corresponding value for the year ’ s first quarter .
" Following an initial period of uncertainty , the confirmation of fiscal incentives for 2018 have helped re-launch investments in advanced technologies by Italian textile companies ," states Zucchi .